Breaking News

Rogers and Bell buy OTPP’s Stake in MLSE

75% of MLSE = $1.3B

Details to follow, but it looks like Ontario Teachers have cashed out to the tune of $1.3B. Considering they bought their stake for under $300M a decade ago, they done well.

The deal itself seems impressive; both Rogers and Bell jointly threw down a big chunk of cash to do this (reminiscent of the Olympic bid they had together that squeezed the CBC out of the coverage). Rogers is the big winner in all of this, owning all of Toronto’s important sports properties.

More to come as things develop and we have time to percolate on the rammifications of it all. My first thought is that the Jays have done quite well under Rogers’ stewardship, and I expect no less of the Raptors and Leafs.

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